West Midlandswww.iod.com January 2018

Director of the Year Awards launched Breaking out of the ‘glass labyrinth’

We’re on the up This is the region’s time to shine, Mayor tells annual dinner

It’s been a pleasure to serve CONTACTS IoD West Midlands: this wonderful organisation The Library of Birmingham, Centenary Square, Birmingham B1 2ND particularly heartening to see the IoD embrace t: 0121 643 7801 directors from across the multi-cultural mosaic Dr Jason Wouhra OBE that is modern Britain. The IoD is changing, both Chairman: Dr Jason Wouhra OBE Chairman, in its services and its public face, as we continue to e: [email protected] IoD West Midlands make ourselves more relevant and representative of t: 0121 359 2199 the business community we serve. The hunt is now on for my successor: if you are Regional Director/Editor: A Happy New Year to you all. interested in the role, contact the regional director, Calum Nisbet e: [email protected] To begin, I will be stepping down as regional Calum Nisbet, for more details. I would be happy t: 0121 643 7801 chairman in the summer, after our Director of the to offer any advice or guidance, too, if you are Year Awards. considering applying to lead this great organisation. Regional Events Manager/ It’s been a difficult decision to make but after Content Editor: four years leading this marvellous organisation, I To other matters and, inevitably, I begin with Sue Hurrell believe the time is right to hand over to another. Brexit. Well, at least we have made a start. I dislike e: [email protected] It’s been an absolute pleasure to chair the IoD the very public disagreements that still appear to t: 0121 643 1868 through what has been an exciting time for both be tearing the Cabinet apart, and in many cases it the IoD and the region’s business leaders. We have feels like two steps forward, one step back – but we The Institute of Directors West Midlands faced a number of challenges but I’m delighted are making progress. The news that an interim membership magazine is published on with the way we have responded to them, have deal has been sketched out and talks can begin on behalf of the IoD by: raised the profile of the IoD and helped put the trade and tariffs is welcome – but as ever, the devil business case to government, both regionally and will be in the detail. Chamber Media Services, nationally. What I do know is that I am already hearing of 4 Hilton Road, Bramhall, Stockport, People often ask me what is the best part of my the impact the EU referendum is having on some Cheshire SK7 3AG. role: I always answer that it’s the chance to meet businesses. A case in point is the agricultural our members, to listen to their stories and sector, where businesses are reporting labour Advertising sales: Colin Regan understand how they have built their businesses shortages after a sharp fall in the number of t: 01925 879830 / 07871 444922 – and learn from them. You never stop learning, short-term migrants so needed for temporary e: [email protected] no matter how senior you are, and that’s a message work. That is worrying and a possible precursor that I’ve realised more and more as I’ve gone for a situation other businesses may face in the Production enquiries: round the region, talking to you. future. Rob Beswick, The role of chairman has also given me the The concern for the wider business world is t: 0161 426 7957 chance to meet, press and cajole a number of whether staff shortages will lead to inefficiency, e: [email protected] senior political figures, making the case for loss of productivity and wage inflation as the skills business, for directors and for the West Midlands. pool shrinks further. It is a concern. Recently I was at No. 10 Downing Street for a However, for the time being, the economy still Please note... reception with the Prime Minister, and had a good looks strong across the region. Birmingham’s Although every effort is made to ensure chat with the Defence Secretary, Gavin skyline makes a statement in itself, as it bustles the accuracy of material contained Williamson, who has been a big supporter of the with cranes as new developments spring up apace. within this magazine, neither the IoD IoD and is certainly a politician to watch. Talking to our regional Mayor, Andy Street, at our nor Chamber Media Services can Over my time as Chairman it has been great to Annual Dinner, he was bullish about the economy accept any responsibility for omissions see the IoD grow, both in influence and at present and its possibilities for the future. That or inaccuracies in its editorial or membership, and also to see it change in its is encouraging. advertising content. make-up and ethos, to become an organisation Finally, the news that Birmingham has been that is more representative of the wider confirmed as host of the Commonwealth Games The views expressed in this publication community. The IoD has led the way in welcoming for 2022, and that Coventry will be the City of are not necessarily those of the IoD. The carriage of adverts in this female directors, directors from across the ethnic Culture for 2021, is a huge fillip for the region. publication does not constitute an spectrum and by encouraging younger directors Well done to the organising teams – now the hard endorsement of the products or and entrepreneurs to join us. As the first regional work starts in earnest! I’m sure the IoD will give services advertised. chairman from the BAME community it has you every support. All articles within this publication are copyright IoD West Midlands. Editorial IoD West Midlands Patrons consent must be obtained before any are reproduced either in printed form or electronically.

Cover picture: Mayor of the West Midlands, Andy Street, addresses IoD members at the Annual Dinner. See pages 8-9

IoD West Midlands January 2018 | 03 News

Hunt is on for a new IoD West Midlands chairman

The hunt for a new Applications are now open for an inclusive actively engage, encourage and support and engaging leader who has the requisite members in the region. IoD West Midlands gravitas, skill and experience to be the leading Working closely with the local IoD regional Chairman has begun! IoD non-executive volunteer representative in director and the West Midlands committee and the region for a three-year term. team, the Chairman works to create positive After four years in post, Dr Jason Wouhra OBE The ideal candidate will be a current business relations with local membership, business and will be stepping down from the role of the West practitioner, who actively demonstrates IoD relevant bodies as well as IoD operational teams Midlands Chairman in Summer 2018. behaviours and values and has an alignment in 116 Pall Mall. Jason, who took over from John Rider in with the IoD vision around director If you would like to learn more about the 2013, was the region’s youngest-ever chairman development, CSR, governance, diversity, role, please contact Calum Nisbet at (as well as the IoD’s youngest-ever Chartered leadership and member support. [email protected] or call him on Director) and has been a fantastic champion for Applicants will understand the local area 0121 643 7801. both the IoD and the West Midlands during his economy and be willing to lead a positive and All those applying will be expected to provide tenure. impactful group of engaged volunteers to a CV and to attend interview. Director of the Year 2018 is.... open!

Do you have what it takes to stand out from the crowd – or do you know a director or business leader who does? Well, now is the time to turn the spotlight on you as the 2018 West Midlands Director of the Year Awards are once again open for entries and nominations online. The categories are: n Emerging Director n Non-executive Director n Early Stage Director n Public/Third Sector n Family Business for each of the award categories. Benefits for n Director’s Award for Inclusivity sponsors include exclusive profile and n Director’s Award for Innovation recognition, presenting the award at the n Global Director of the Year prestigious Director of the Year Breakfast, a n Chairman’s Award for Excellence table of 10 at the awards breakfast, a link on the in Director and Board Practice IoD website and prominent logo placement in The closing date for entries is Friday, all printed material, including in this magazine February 28, and the Awards Breakfast itself 2017 Director both pre and post-event, photographs on the of the Year Ian is on June 19 at Edgbaston Stadium, Graves with day and more. Birmingham. regional Want to know more? Winners are also entered into the national chairman Dr For further information on sponsorship awards, which take place in London in the Jason Wouhra opportunities contact Calum Nisbet, IoD autumn. This year we were delighted to see West Midlands Regional Director, on 0121 Worcestershire-based Nathan Warren win the our foremost business leaders, and allow others 643 7801 or [email protected]. IoD’s Chartered Director of the Year. to understand the secrets of their success. To enter/nominate for the awards, see Why not join us on the day? This is one of We are also currently looking for sponsors www.iodawards.com/westmidlands the most uplifting events you will attend, and the atmosphere at the impressive Edgbaston Qatar bonus for Director of the Year Stadium is always superb. Come along and be We are delighted to announce that our Patrons, Qatar Airways, have inspired by this year’s finalists who have shown kindly donated two Business Class tickets to the overall winner of the business excellence, ambition, commitment, West Midlands Director of the Year Awards*. Flying from Birmingham innovation and strong leadership qualities. Airport, the lucky winner and their guest will be able to fly anywhere The morning opens with a Champagne in the Qatar Airways network to experience its award-winning service. reception at 7.30am followed by a full English No strangers to awards ceremonies, Qatar Airways won both the breakfast. The awards presentations start at Airline of the Year and the World’s Best Business Class categories at 8.30am and we aim to finish by 10am. the Skytrax World Airline Awards 2017. The awards are a superb way to recognise * T&Cs apply 04 | IoD West Midlands January 2018 Minister praises HS2 ambassadors’ role as key to future of project

A group of 25 IoD members met in Westminster for a tour of the Houses of Parliament and an audience with the Rt Hon. Gavin Williamson CBE MP. Gavin is MP for South Staffordshire and, after a stint as Chief Whip, is now Secretary of State for Defence. Members began their tour in the 1,000-year-old Westminster Hall, the oldest building on the estate which had survived the fire of 1834. Our guide, Celia, said it was remarkable to have a self-supportive roof so large in the 11th Century. Another interesting fact was the discovery of tennis balls in the rafters from when Henry VIII used the hall as a tennis court back in the 16th Century! Moving through to the neo-Gothic Westminster Palace, designed by Charles Barry and Augustus Pugin, members were treated to a magnificent collection of works of September 1940. common ground and push legislation through. art and furnishings. Entering the House of Lords, with its red Questions posed to Gavin included topics as Fortunately, the group were also permitted seats, and the House of Commons, green diverse as tax, solving problems with the NHS, entrance to the Robing Room. Used by the seats, Celia explained the inextricable links autonomous vehicles and HS2. Queen to change into her ceremonial gowns, between the two Houses and the Monarchy. He called for a national debate on the social the room is renowned for its use by the House It was a great pleasure for members to meet impact of autonomous vehicles and hoped a of Lords during World War II. Gavin and he gave a summary of his then role current bill was leading that discussion. The House of Lords had given their as Chief Whip, including the hard work On HS2 he praised the role of the HS2 Chamber to the Commons to use because involved in passing legislation and how the ambassadors working to get as many British their own Chamber suffered bomb damage in whips work with the opposition to find companies as possible in the supply chain, adding, “I will be working to maximise benefits for Staffordshire. The HS2 project will lever in investment and growth into Staffordshire with Birmingham being the Hub, not London. “The Government believes the project will bring economic power to regions.” Members also had the opportunity to view the Jewel House, which was built in the 14th Century and housed Edward III’s treasures, including a large collection of crowns. Today, the tower has a collection of interesting objects, including some wooden foundations, a model of the medieval palace of Westminster and old weights and measures from when the tower was used by the Board of Trade Standards Department in the 19th Century. Opening up on funding options

The Midlands Engine is holding a Funding Challenge Fund, as well as new innovation and an afternoon session, including a and Finance event on January 30 at the loans products. networking lunch. The IoD will be in Manufacturing Technology Centre in The British Business Bank will be attendance. Coventry. highlighting its Midlands Engine More details and tickets are available at The event will highlight grants available Investment Fund and as well as its wider https://breakfastinnovation midlands2018. through the Government-backed business portfolio of products too. eventbrite.co.uk and https:// body, including the new Industrial Strategy The day is split into a breakfast session innovationmidlands2018.eventbrite.co.uk

IoD West Midlands January 2018 | 05 News

Brian Hall, Lady Barbara Judge CBE, Dr Jason Wouhra OBE, Rebecca McNeil and Calum Nisbet IoD’s Lady Judge urges women to seize their moment

Women were urged to seize the day to become voice and a lot of companies are now saying Also sharing tips from her own experience in successful business leaders by the chair of the they need that balance.” the workplace was Rebecca McNeil, chief IoD, Lady Barbara Judge CBE. But she warned: “Women have the advantage operating officer with Barclays Business She told the IoD Women as Leaders event at the moment and we have to make the most of Banking. She also spoke about the need for that women had worked for decades for it because it won’t last, the pendulum will swing women to take pro-active steps to progress in opportunities which are now within reach. back.” business. Lady Judge, who is the first female chairman A former commissioner with the US “You have to be your own self-publicist,” she of the IoD, told the gathering in Birmingham Securities and Exchange Commission, executive said. “And take every single opportunity that city centre: “This is a magic moment for women director of New International and chair of the you get. Definitely take advantage of things that right now. It’s a moment in which employers are UK Atomic Energy Authority, Lady Judge at first look like they could be bad news. Don’t looking for women. It gives a company a good shared stories and lessons learned from her just sit back and wait for things to happen.” balance to have women on the board and in career with the audience at Barclays Bank’s Attended by around 60 people, the Women senior positions because they bring a different Latitude Club at Snow Hill. as Leaders Brunch was hailed a huge success by Brian Hall, managing director of BHSF Employee Benefits, who closed the event on behalf of the IoD. He said: “Lady Barbara speaks from her own very extensive experience and it has been brilliant to hear her stories and advice. “She met with Andy Street earlier this morning to learn more about the technical skills agenda which has provided businesses in the West Midlands with a new perspective. “In addition, Lady Barbara heard that investment is flowing into the region, and this has led to expectations being lifted – and it now falls to the business community to upskill its workforce with a clear emphasis on the digital agenda. “Lady Barbara, just like Andy, is committed to the driving of opportunity, and is a true inspiration to the business community.”

06 | IoD West Midlands January 2018 Mastermind groups - a Crouching Tigers, Hidden new way for directors Dragons: Corporate Change New companies or those going through a programme to broaden experience of corporate change could unknowingly find themselves up against potentially costly benefit and boost knowledge related issues, if they aren’t aware during the process, says Ascot Lloyd’s Corporate Financial Adviser, Have you ever considered joining one of the IoD’s Mark Leefe. Mastermind Groups? Jane Sommerville joined one when she was looking for advice and peer-to-peer Ascot Lloyd, formerly known as Bellpenny, offers professional advice guidance as she led a management buy-out at within the corporate sector. Our advisers recognise that the ‘crouching Bowers & Jones Ltd. Here she shares her thoughts tigers, hidden dragons’ of the benefits world could creep up if with Calum Nisbet about the support she received businesses aren’t careful. For instance, any new company must now have automatic enrolment processes in place from day one, if the business has any employees. This can prove quite challenging and Q: How did you hear about the breakfast should be factored in to any prior budgeting for the new company’s mastermind group? set-up or change programme costings. A: I first learnt about them through this Where there is a requirement to replace existing benefits, this often magazine when I read a feature on them. creates complication and therefore possible additional costs that might Q: What have been the main benefits for need to be factored into any start-up or corporate change project. For you of joining a mastermind group? How instance: has it added to your skill set as a director? • Sometimes the benefits have to be replaced on a like-for-like basis, A: I use the group as a forum to discuss depending on how the sale/purchase agreement is negotiated and how and debate issues I am having that I don’t the TUPE regulations (‘Transfer of Undertakings (Protection of really want to discuss with my work Employment) Regulations 2006’) interact. This can be quite difficult to colleagues. I suppose I look at it a bit like a support achieve, highly technical and costly if great care is not taken; group. • Benefit considerations are often left to the last minute in change projects, with the attendant risks of uninsured periods for members Q: How influential was the group in helping you come to a decision and possible gaps in their cover due to the haste; this is especially so about the MBO? with group death-in-service, income protection, critical illness or A: I think it has made me look at challenging situations differently private medical benefits, for example; and I know that the group are there to help and support; I’m not on my • Haste also brings with it the potential extra costs of time-pressured own. implementation schedules to meet last minute completion dates; • Unnecessary employee disturbance issues are often created if Q: How involved were the individuals in the group and are they still employees are not consulted properly with well thought-out and timely ‘interested’ in the success? delivered communications (that are also legally compliant, of course!). A: It was very influential. The group made me ask (of myself) the It is common in our experience to note the basic failure to correct questions and provide the confidence to make it work. They undertake thorough advance due diligence to uncover any potential gave me ideas and solutions I hadn’t thought off and made the problem issues that might be hidden within the existing benefit structures, smaller and more manageable. employee promises or contractual obligations (both external and The original group have been very supportive and are still interested internal). If uncovered as an issue post completion, these can in the progress and journey. sometimes be very costly indeed to rectify. Ascot Lloyd has considerable experience in supporting corporate Q: What unexpected benefits may have come from being part of the change and new company set-up. We have an extensive in-house group? technical grasp of the attendant issues, ranging from defined A: I have met a great bunch of people who can support me in many benefit pension scheme liabilities to group risk requirements and other ways. I can pick up the phone and ask for help and they are legislative pension duties. always very supportive. My network has expanded in completely Ascot Lloyd understands the complicated interaction between different fields and is richer than before. the onerous automatic enrolment regulations and TUPE and I feel quite strongly that the group should not be used as a routinely supports businesses to pick their way through the commercial networking forum. I feel that the participants should be complications of such corporate change benefits planning. able to feel comfortable in opening up, which for strong leaders and business people is not easy or natural. It’s not a group for showboating An Ascot Lloyd Corporate Financial Adviser would be delighted or bragging about how well you’re doing, it’s about supporting you as to have an initial discussion with you about any of the issues an individual to achieve the things that are challenging and to do this raised in this article, so if you’d like to discuss more, contact you need to be able to talk about the things that are not going so well. the Ascot Lloyd Corporate team on 0345 475 7500. This is not a natural or easy for many confident, successful directors 45 Church Street, Birmingham, B3 2RT. – but is a very necessary part of the Mastermind Group process.

• Interested in joining a Mastermind group? See pages 18-19 for more details

IoD West Midlands January 2018 | 07 News

It’s our time to shine, says Mayor Andy

Calum Nisbet IoD West Midlands Annual Dinner in It hardly seemed a year since we had graced the lavish surrounds of The Great Hall at Warwick Castle for our annual dinner in the Great Hall of Warwick Castle hears November 2016, where we received a ‘call to arms’ from Sir John Peace, Chair of the Midlands Engine. an impassioned plea for the region to But a year it had been and, as our Chair Dr Jason Wouhra remarked, how much progress had the Government made in the make the most of opportunities past 12 months? “The economy is still challenging, with currency fluctuations created by the devolution programme creating problems for business leaders who, with the uncertainty of Brexit and unpredictable leadership in London, are reluctant to make decisions on big investments. “However, in the Midlands we hear good news story after good news story and we are delighted that Andy Street, our guest speaker tonight, has been appointed as the first elected Mayor of the West Midlands Combined Authority.” And for Andy, it had been an incredible year. Attending as a guest last year, having recently resigned as Chief Executive of John Lewis in order to run for the new role of Mayor, he was asked what the alternative role would be, should he not be elected. The answer was clear: There was no Plan B. Andy began by generously paying tribute to the multitude of MPs and civic leaders from across the region, saying how delighted he was to have the cross–party support of so many from across the political divide as negotiations continue with Government for the second Devolution Deal in the forthcoming Budget. He talked, very optimistically, about the impact a successful bid for Coventry’s City of Culture 2021 and Birmingham’s Commonwealth Games 2022 would have across the region – and it was superb that both decisions were confirmed as the year drew to a close, as it clearly opens up huge possibilities for investment across the region. Praising the business community and our universities in how From left, Andy Street with IoD they collaborate to support society and develop innovation and regional chairman Jason Wouhra talent, he commented on some challenges the region faces. “A lack and regional director Calum Nisbet of representation at leadership level needs to be addressed so that

08 | IoD West Midlands January 2018 Emma and John Newcombe, Marian and Mandeep Rajput, Sue Hurrell, Rushma Paul Latham; Paul Cadman, Fiona and Panchal, Dr Jason Wouhra OBE, Katy Bob Boyd, Colin Virgo and Rebecca Greenaway Manning and Harj Millington

Jackie Hendley, Dawn Hands Rhys Jarman, Tari Thomas Mo Nawaz and and June Wiseman and David Willetts Sudhir Kumar the people who have a significant influence on the West Midlands properly reflect its society. “We are a diverse region but to truly thrive in the 21st century we need to make the most of the exceptional talent and potential we have in all of our different communities.” To help address this, he announced the launch of a commission to explore what lies behind under-representation at leadership level and take appropriate action to tackle it. This commission will reach out into communities and institutions to give a voice to views and ideas from people across the region. Andy ended by talking about the omnipresent issue of skills. “Businesses simply can’t find the skilled people they need to grow. Ian Priest, David But business leaders also need to speak louder about the skills they Trevis-Smith, Lorna will need in the future. Bath and Stephanie “Addressing this challenge is my priority, and I hope it will be Trevis-Smith Government’s too, so that we can unleash the full potential of the Industrial Strategy.” For the second year running and like those before them over the centuries, IoD members and guests left the confines of the Castle, emboldened by the rallying messages of a regional leader: this is our time to shine.

Paul Fairburn with Paul Atkin David and Louise Bisiker with Jane and Richard Bisiker

IoD West Midlands January 2018 | 09 In conversation with.... Nathan Warren

Chartered director primes Nathan to oversee ambitious business growth

Earlier this year, Nathan Warren, Group Director, Commercial for Sanctuary Group, was named IoD’s Chartered Director of the Year. We talk to him about what drives him as a director, his success and how his qualification has benefited him and the organisation.

I’ve worked at Sanctuary since 2005. I am part Nathan Warren (right) of the executive team which ensures our with David Bennett, organisation is able to meet its charitable who is holding the IoD objectives of delivering housing and care to Chartered Director of those who need it. the Year Award I qualified as an accountant many years ago, but have remained committed to learning new skills and developing my abilities ever since, with an Executive MBA at Warwick and more recently, through the IoD’s Chartered Director qualification. The IoD qualification was an opportunity for me to build on and demonstrate my understanding of corporate governance and the working group I feel my personal opportunity to put into practice the knowledge leadership. experience can make a real difference. we had gained with a supportive peer-group Sanctuary is a dynamic organisation with a The group is responsible for advocating and around us. strong financial basis and track record of promoting diversity and equality best practice The training provided us with everything consistent growth; its recent acquisition of internally and externally. Our aim is to deliver from the tools and relevant techniques to Embrace Care has brought the portfolio of both innovation and best practice in all areas. improve personal skills to building knowledge registered care homes to over 100 in England Our ‘Fairness For All’ scheme builds on our of key business topics. It all made a huge and Scotland. We also have an ambitious work to embed the principles of equality and difference, allowing me to come back to development programme to build 30,000 new fairness into everything that we do, which is Sanctuary and develop my performance and homes in England and Scotland over the next good for our customers, staff and business. that of the Group. 10 years. Becoming a Chartered Director has Although it took me some time to get Being named as the IoD’s Chartered Director allowed me to play a part in these activities and through the different stages to become a of the Year was the icing on the cake for me and contribute towards the group’s continued Chartered Director, each of the modules were made all of the hard work worthwhile. I look success. of significant value. forward to using my new skills and knowledge My position at Sanctuary has seen me take The advantage of the various elements of the to further deliver Sanctuary’s charitable on responsibility for commercial activities as Chartered Director qualification was the objectives and core values. well as manage a number of our operations in the past, such as student accommodation services. My most recent challenge and personal development opportunity was when I was asked to chair Sanctuary’s equality and diversity “The Chartered Director qualification gives you the chance to working group. put into practice the knowledge we had gained with a Some years ago I was diagnosed with a rare muscle-wasting disorder which has changed my supportive peer-group around us. The training provided us perspective on life. I recognise that as a senior with everything from the tools and relevant techniques to leader in the organisation I have the opportunity to be a role model and by chairing improve personal skills to building knowledge of key topics”

10 | IoD West Midlands January 2018 The high-speed future of work

On October 11, a few lucky IoD members were invited to attend an event at the Williams F1 Factory in Oxfordshire to hear a seminar entitled The Future of Work. The event was hosted by David Smallwood, CEO of BT Local Business, who explained how BT sees the future demand for, and changes expected in, the telecommunications world – very much around cloud working and digital transformation. Topics covered included the forecasted demand for internet access (bandwidth demand is expected to grow by 60 times over the next five years), the Internet of Things and a fascinating talk from a BT Futurologist on how they see changes in the workplace and the future of integrated telephony in business The event was held in the Ayrton Senna room and included a tour of the F1 museum, home to all the Williams cars over the past 20 employs more than 40,000 people in the UK – collaboration and alignment of goals. The years. It reminded us all of how much of a mostly in high-tech engineering. feeling of camaraderie and ownership from major player the UK has been in the world of Finally, we were treated to a behind-the- every employee we met struck everyone who Formula One. Seven of the 10 Formula One scenes factory tour where we saw first-hand attended. teams are based in Britain and invest an how Williams is at the forefront of vital R&D • David Smallwood and BT Local Business, estimated £1bn into research and development that can boost the manufacturing industry. which covers Birmingham and Hereford down every year. It was blatantly apparent that the success of to the Welsh Borders, will run a similar ‘Future It is believed that the motorsport industry Williams was fuelled by its focus on teamwork, of Work’ session in the West Midlands in 2018.

IoD West Midlands January 2018 | 11 News Stafford is open for business German-owned Classeq opens new 3,000 square metre plant at Beacon Business Park

The continental flags are flying high at Beacon Gary Jones, managing director at Classeq better factory and offices than I could have Business Park in Stafford, as the new Ltd, explains how the team at Beacon Business anticipated.” manufacturing facility for Classeq Limited Park helped them realise their vision with This latest development follows the recent warewashers opened its doors. added benefits: successful completion of a 4,000 square metre Classeq, previously based in Hixon near “We looked all over the West Midlands UK headquarters at Beacon Business Park for Stafford, was formed in 1977 to provide glass before choosing to come here, and our the German construction equipment group and dishwashing equipment to the hospitality experience has been that this was the right Wacker Neuson, putting Staffordshire firmly on industry. The company has since grown to choice. the map when it comes to our European dominate its sector of the market and was “The great thing about the on-site team at partners. purchased by German-based family-owned Beacon Business Park is that I have had business Winterhalter Gastronom GmbH in someone to speak to about the project right For more information about commercial 2004, with a view to increasing their investment from our initial enquiry and that same team property for sale in Staffordshire, contact in the UK and entering the value product range has helped us to shape the project and bring it ISE Estates on 01785 256098 or email after 70 years in the market. to fruition. We are ending up with a much [email protected]. With expansion in mind, Beacon Business Park’s new 50-acre development zone was the Left to right obvious choice. Plans were put in place to at the launch house their manufacturing and distribution in a are Manfred single facility, designed by Stafford-based Rieger, David architects Barnett Ratcliffe Partnership. Smithson, Planning permission was approved by Stafford Jürgen Borough Council in May 2016 and Winterhalter, construction started on the site shortly after. Gary Jones The new 3,156 square metre unit and Ralph incorporates production lines, sales and Winterhalter. support offices, meeting room and a new showroom. The new building also has impressive green credentials too, incorporating renewable energy within the plant and a purpose-built cycle area. The new enhanced facility at Beacon Business Park will enable Classeq to increase the productivity rate of 16,000 units per annum at their old premises, by 60 per cent.

12 | IoD West Midlands January 2018 Funding growth: Finding the right partner for your business

One of the major challenges entrepreneurs face How to choose a partner is finding a funding partner. The decision How to choose your investor is a very should not simply be down to whether the important process. You have to remember that investment takes the form of equity or debt, or you don’t ‘give’ equity – you sell it, in a willing even the cost of the equity or debt. Rather, it is agreement for a certain price, and with about the level of influence the funder has on contractual obligations attached. the business and whether that partner is especially where the business faces challenges. Partnering is about selecting an investor you suitable for the business’s needs, not just today Simply put, the lender ranks ahead of the equity will be comfortable with in the Boardroom but going forward. and may have a different agenda as a result. after the transaction has taken place. It is Entrepreneurs need to consider what value important to remember that the best terms may each person adds to the business. It’s not just Equity partners as enablers not come along with the best partner. about ‘how much will this cost me?’ The right It is often said that an equity investor’s role is You should plan to have a partner who will question should be: ‘how much will it cost me if to provide ‘more than just money’. They are be with you to fund future growth, not just I choose the wrong partner…’ invested in your business, and their interests someone taking you through a transaction. should be aligned with yours; after all, if your The advantage of debt business succeeds, so do they. What to look for in an investor The independently-minded entrepreneur The added-value is often cited as giving • The investor’s sector knowledge may prefer debt – such as secured lending, access to new customers, routes to market and • The investment time horizon invoice discounting, property backed finance or helping to assist the company by utilising the • The chemistry – though remember that the simply an overdraft – because it appears to offer equity investor’s experience of the challenges people making the investment, a ‘deal team’, the possibility of retaining more control over faced by growing businesses. may differ from the people whom you will deal the business and profits. At times the additional disciplines brought with going forward, a ‘portfolio team’ With debt the lender has no equity share and by equity investors can feel like a form of tough • Other investees’ experience with the the entrepreneur also gets to keep all the upside love. investors. in equity value. This can be a difficult transition for many Like any relationship, if values, personalities However, the basic lender/borrower nature owners as it requires a very strong relationship and needs are not aligned, it can spell disaster of this relationship can have its detractions, with a partner who is ultimately independent. for the union from the beginning.

Disclaimer By necessity, this briefing can only provide a short Want to know more? overview and it is essential to seek professional advice before applying the contents of this article. No For more information please contact: responsibility can be taken for any loss arising from action taken or refrained from on the basis of this publication. Details correct at time of writing. Smith & Williamson LLP Regulated by the Institute of Chartered Accountants in England and Wales for a range of investment business activities. A member of Nexia International.

Smith & Williamson Corporate Finance Limited: Registered in England at 25 Moorgate, London EC2R 6AY No 4533970 Authorised and regulated by the Financial Conduct Iain Lownes, Ray Abercromby, Authority A member of the London Stock Exchange Corporate Finance Services Tax Services to Business A member of Oaklins International Inc. T: 0121 710 5282 T: 0121 710 5223 The Financial Conduct Authority does not regulate all E: [email protected] E: [email protected] of the products and services referred to here.

Exclusive ‘Show me the money’ event Discover the ins and outs of funding for fast growth businesses Date: Wednesday, February 28 provide you with a practical guide to of experts representing well-known Time: 8am-11.30am the who, why, what, when and how to sources of finance including Santander Venue: The Belfry, Lichfield Road, securing funding for your scale-up UK, ThinCats and YFM Equity Partners. Wishaw, Sutton Coldfield business. During the session you will For more information and to B76 9PR hear from a range of people who will reserve your place at this free event, Smith & Williamson is hosting an share their valuable experiences. We please contact BirminghamEvents@ exclusive event during which we will will also put your questions to a panel smithandwilliamson.com

IoD West Midlands January 2018 | 13 Feature on business finance Bridging finance tips for businesses

Mark Finucane, regional development director for the Midlands at Together, explains how businesses are increasingly using bridging finance.

Record numbers of short-term loans were written in the last financial year – with the annual figure breaking the £3 billion target for the first time, according to industry experts. Data published by the Association of Short Term Lenders showed that the market continues to gather pace, up more than seven per cent in the year to June 2017. The second quarter alone saw a record of £875 million written, which is 12.1 per cent higher than when compared to the first quarter of the year and shows the continuing strength of bridging finance lending. also helping with the associated costs, such as removals, Together has provided short-term loans worth a furniture and IT. A bridging loan may save the company record £677.5 million to 30th June this year. That is more from dipping into their own cash reserves to fund the than 14 per cent higher compared to the 2016 figure – move. resulting in the largest amount of finance written in the company’s 43-year history. •To release cash-flow The increase underlines the growing popularity for Bridging finance can also be a great way of creating short-term finance, which can be used for many reasons cash-flow by releasing equity; often against a residential such as growing property investors’ portfolios, major property. regeneration projects, or by limited companies looking This can be particularly popular with start-ups that to release equity to expand their business operations. may struggle to get long-term finance until their business Historically, bridging loans have mostly been used for is fully-established. property; often to repair broken chains or to purchase property quickly. However, increasingly SMEs are •To refinance existing debts turning to this flexible form of finance to raise capital for Refinancing can help small businesses by a much wider variety of purposes, and Together works consolidating existing debts into one and making them with developers and SMEs across the UK to help them easier to manage. Often, refinancing can help businesses access the funding they need. to pay off creditors and maintain relationships with key Here are a few tips on how businesses can make the suppliers, which can be crucial for the company’s most of short-term finance. reputation. • To seize an investment opportunity Time is of the essence when it comes to commercial For more information contact Mark Finucane on deals, whether it’s to buy into a new venture, or acquire [email protected] or call another business, bridging loans can be arranged in on 0121 396 1478. extremely tight timescales, sometimes a matter of days. Find out more at Togethermoney.com

• To facilitate a management buyout When opportunities arise for a buy-out, funds are often needed fast to avoid negotiations being drawn out “Increasingly SMEs are turning to this flexible longer than necessary. The short-term finance can then be repaid and the business finance restructured once the form of finance to raise capital for a much wider new management team is in place. variety of purposes, and Together works with • To provide funds for relocation developers and SMEs across the UK to help them A bridging loan can be ideal for businesses that are looking to relocate, securing the chosen property and access the funding they need...”

14 | IoD West Midlands January 2018

Events Diary A taste for network-gin 99 Social with Gin Tasting There will be an opportunity to give a micro pitch if Date: Thursday, February 1 you wish. This is just 60 seconds to give the group an Time: 6.30pm-8.30pm important message about your business. Venue: The White Swan, Harborne Road, And that’s not all! Also included at this event is a Birmingham B15 3TT special gin tasting session of Tanqueray gins with a short Cost: Free of charge talk about how gin is made and the history of the 99 Network members are invited to a special networking Tanqueray brand. There are only 30 places available, so evening. please book early to avoid disappointment. Avoid communication mistakes Language and Behaviour (LAB) Patterns Workshop verbally and in written word or content. Lead by IoD Date: Wednesday, February 7 member Jackie Casey, the workshop is interactive, fun Time: 9am-12 noon and you will take away some skills that you can apply Venue: Smith and Williamson, 9 Colmore Row, straight away in your communication with others Birmingham B3 2BJ whether in a business setting or in a personal setting Cost: Free of charge for IoD Members. Jackie Casey is an organisational psychologist, £15 +VAT member guests, qualified Coach and Trainer and a specialist in £30 +VAT non members profiling. She is one of only 88 qualified consultant In this workshop, you will learn some of the key trainers in the UK able to deliver this level of language patterns and how they can be used both training. No snooze-fest at 99 social with Snoozle founder 99 Social with Phil Neale, In September 2017 Phil left his job as brand Final of Britain’s Got Talent 2015 with his two founder of Snoozle manager of a £1.3 billion brand (Tesco brothers and dad (as The Neales), Date: Thursday, March 1 Finest*) to focus full-time on his reaching number 6 in The UK Music Time: 6pm-8pm own start-up, Snoozle. Charts in 2016. Venue: First Floor Conference Suite, In October, Snoozle quickly There will also be an Library of Birmingham, became the number one opportunity for you to give a Centenary Square, Birmingham investment opportunity on 60-second micro pitch. B1 2ND Europe’s largest crowdfunding Light refreshments will be Cost: Free of charge platform, hitting its £100k supplied. Don’t miss this special 99 social event with target in just nine hours! the opportunity to meet Phil Neale, founder of You may also recognise Phil Snoozle - The Social Alarm Clock. because he appeared in the Live

IoD West Midlands Leadership Series 2018 Good governance – and how you can achieve it Date: Tuesday, March 27 European Academy of Management (EURAM). Time: 7.30am-9.30am This project has received funding from the Venue: University of Wolverhampton European Union’s Horizon 2020 research and Business School, innovation programme under the Marie 10 Molineux St, Skłodowska-Curie grant agreement No 748905. Wolverhampton WV1 4DE Cost: Free of charge to IoD members value which can be created by a board of directors and its individual members but also Dates for your diary gain an insight into the state-of-the-art research IoD West Midlands is delighted to announce The second, third and fourth sessions into corporate governance. it has partnered with the University of in this series will be held on The workshops will be led by Dr Daniel Yar Wolverhampton Business School to bring you Thursday, May 24, Thursday, October Hamidi, the principal investigator of project four free of charge workshops during 2018 11 and Thursday, November 29. GoSMEs, together with Professor Silke about the importance of good governance. More details in the next issue of IoD Machold, professor of Corporate Governance The first event in the series is: ‘Defining West Midlands or see www.iod.com/ and dean of research at the University of Value, Realising Value Creation.’ westmids / contact Wolverhampton, and Professor Sibel Yamak, From this interactive workshop you will not [email protected] only leave with a clearer understanding of the professor of Management and the President of 16 | IoD West Midlands January 2018 Women as Leaders Ice Maidens are back - and they’ll 99ers, groomed for the top Date: Thursday, April 19 have a stunning story to tell Time: 6pm-8pm Venue: Library of Birmingham, Date: Thursday, April 26 Centenary Square, Time: 11.45am - 2.30pm Birmingham Venue: Opus Restaurant, Cost: Free of charge 54 Cornwall Street, Birmingham B3 2DE Calling all IoD 99ers... in April we Price: £45+VAT Member have what should be a fascinating £50 + VAT Non-member social event, as our guest speaker will be Rob Hallmark, founder of men’s grooming business, Gruhme. Rob will Don’t miss out on meeting the British share his experiences of growing a business including Army’s Ice Maidens, who at the time of appearing on BBC TV Dragons’ Den. writing are currently traversing There will also be time for the popular 99 Network Antarctica as they attempt to become the 60-second pitches and network building! first all-female team to cross the ice The Ice Maiden team will cover This is a networking opportunity without equal for continent on skis. They have reached the 1,700km using muscle-power alone, up-and-coming entrepreneurs and business owners still in South Pole – but there’s still a long way to pulling sledges and battling temperatures their early days. You’ll be able to hear how Rob tackled go! of -50°C and wind speeds of over 60mph similar challenges to the ones you face, while at the same No team of women, from any nation, during their three-month journey. time sharing knowledge and advice with your peers in an has completed this formidable challenge. The team will speak about their open and constructive atmosphere. It is the ultimate opportunity to show adventures and scientific research and Contact the IoD West Midlands regional office to that women have the mental strength will be bringing some of their equipment reserve your space; book online at www.iod.com/westmids and physical endurance to operate in the along to the event – with plenty of time or contact [email protected] most hostile environment on Earth. for questions, too.

IoD West Midlands January 2018 | 17 Events Diary

International Women’s Day Debate BHSF Productivity Breakfast Series Let’s #PressForProgress Date: Thursday, March 15 Time: 8am-10am Date: Thursday, March 8 Venue: The Latitude Club, Time: 6pm-8pm Barclays, Venue: John Lewis, Grand Central, One Snowhill, 2 Station St, Birmingham B2 Birmingham B4 6GN 4AU Cost: Free of charge Cost: £10 +VAT members £15 +VAT non members

Join us to celebrate International Women’s Day with a debate around the global theme, With the national focus on the UK’s #PRESSFORPROGRESS. lagging productivity, the IoD has We will have a high-level panel to lead our organised four special breakfast debate, so come primed with plenty of events focusing on how we can all questions on the big issues of the day and raise productivity, in conjunction how they affect women, both in the UK and with our Patrons, BHSF. around the world. For the first event in this series we Janie Frampton will facilitate. Janie is an welcome IoD Head of Policy experienced facilitator, lecturer and Research, Seamus Nevin. international sports official and is currently a Seamus will discuss why it is so world recognised instructor within the world important for business leaders to governing body of football and has operated Pictured are (from the plan ahead for the skills they will on several world cups. top): Janie Frampton, need in the future, how training – Our panel will include: Suzette Davenport, reskilling and upskilling needs to Suzette Davenport Ch Dir, former Chief Liz Whitfield and change in an age of Constable of Gloucestershire Constabulary Eileen Schofield intelligent and a police officer for 30 years, serving in automation. five forces. Seamus is a Eileen Schofield, founder and principal at member of the law firm Schofield & Associates, and former government’s president of Birmingham Law Society National Living Wage Liz Whitfield, Chartered Accountant, advisory group, the Department for Licensed Practioner of Insights Discovery Education’s Teaching Excellence and NLP Practitioner and Business Coach. Framework advisory group, the Beaulagh Brooks, founder of Business Enterprise Reference Group Centrepunch and course director at at Ofsted, the Vocational and Birmingham School of Jewellery Technical Qualifications Stakeholder This special event will begin with a Group at Ofqual, and the Stake- celebratory glass of bubbly and a buffet. holder Reference Panel at the Institute for Apprenticeships.

Fighting back against the cyber criminals Cyber Security CyberSparta, Chris is now leading a passionate Date: Wednesday, April 25 team of cyber and business professionals, Time: 7.45am-9.15am developing the next generation of security Venue: Lanyon Bowdler LLP, Chapter solutions within the Big Data and Machine House North, Abbey Foregate, Learning realms. Shrewsbury SY2 5DE to cyber security. An experienced leader within He is a committed information security Cost: Free of Charge the cyber security realm, Chris previously champion and frequent speaker at international managed elite security teams at the European conferences and events. We are delighted to be able to invite you to a Space Agency, HP and Fujitsu, and has over 20 You will also have the chance to hear from very special breakfast event. We welcome Chris years of pure cyber-security experience Lanyon Bowdler’s experts on the new General Woods, the founder of CyberSparta, to discuss developed within the EU and MENA regions. Data Protection Regulation (GDPR) and receive some of the prime threats to business through While at HP Chris developed and led a cyber practical advice on the steps your business cyber criminals. security practice, culminating in the acquisition should be taking to enshrine these new Chris has a refreshingly pragmatic approach of ArcSight for $1.5b. With the creation of regulations into your business practices.

18 | IoD West Midlands January 2018 The law laid bare as Save the date for tribunal goes to work the IoD West Midlands Spring Dinner Mock Employment Tribunal with Irwin Date: Thursday, March 22 Time: 7pm-11pm Date: Thursday, November 15 Venue: Hogarths Stone Manor Hotel, Time: 8.30am-1pm judged against and the burden of proof Bromsgrove Road, Venue: Irwin Mitchell LLP, that applies; Kidderminster DY10 4PJ Imperial House, • The role of witnesses and how Cost: £50 + VAT 31 Temple Street, evidence is presented; Birmingham B2 5DB • How a decision is arrived at. We’re currently securing a high-profile Cost: £35+VAT You will have plenty of opportunities to speaker for our IoD Spring Dinner but Have you ever wondered what happens at put questions to solicitors from Irwin save the date in your diary for what is an employment tribunal hearing? This is Mitchell’s Employment Law team during sure to be an inspiring, thought- your opportunity to find out. the course of the morning. provoking and convivial evening with Irwin Mitchell and the IoD are Places are limited, so please register your fellow IoD members. delighted to invite you to our Mock early to avoid disappointment. Watch the website for more details Employment Tribunal where you will gain – www.iod.com/westmids – or contact first-hand experience of an unfair [email protected] who will let you dismissal hearing which we have designed Dates for your diary know when details are finalised. to highlight the typical problems Save the date: encountered by employers. You will learn: Annual Dinner, • What the parties are expected to do to Warwick Castle – prepare for the hearing; Thursday, November 22 • The standards the employer will be

IoD West Midlands January 2018 | 19 Events diary

Getting to grips with GDPR

Getting To Grips with GDPR organisations such as Harrison Clark Rickerbys Date: Tuesday, February 27 Solicitors, KPMG, EBC Group, IASME and IQ Time: 6pm-8.30pm Verify, will then answer questions and help Venue: Hogarths Stone Manor Hotel, steer us in the right direction to get to grips Kidderminster with GDPR. CPD: 2.5 Hours They will cover topics such as: Cost: Free of Charge • Legal Implications and understanding the documentation With only months to go until the new comply. • GDPR audits and ISO General Data Protection Regulation (GDPR) As such, we would like to invite you to join • Software solutions comes into force in May 2018, a recent IoD us at an event which aims to demystify GDPR • Cyber Essentials survey of business leaders revealed there are and help members ensure they know how to be still a worrying number of companies across compliant in handling data. One-to-one advice the country who are not aware of the costs, We have brought together a group of There will also be a limited amount of complexities and responsibilities associated partners to cover all aspects of the process, opportunities to book a 10-minute slot with a with the new rules, which will redefine the way giving you the chance to learn from and member of the panel after the event, from 8pm companies handle data and will include question experts in the field. – 8.30. Please email [email protected] to tougher punishments for those who fail to Our panel of experts, from local book your slot. Wasps - a rollercoaster ride from bust to boom

Date: Thursday, May 10 Time: 7pm-9pm Venue: Ricoh Arena, Coventry CV6 6GE Price: £10 members; £15 non-members

Nick Eastwood joined Wasps Rugby as CEO in 2012 during the most tumultuous period in the club’s history. Financially, the club was in dire straits and in early 2013 was within a minute of going bust, before an 11th hour payment saved the club and gave them the chance to implement a daring recovery. Buying the Ricoh Arena in 2014 and moving the club over 100 miles away from its traditional fan base was an incredibly high-risk strategy and brought with it a huge element of non-rugby business, but gave security and was the crucial step in returning the historic club to where it belongs. Join us at the Ricoh Arena to hear Nick and learn more about his strategy to take the club from the brink of collapse to the highest growth company in Coventry and Warwickshire. The event will include a behind-the-scenes tour of the arena. Open House at Pall Mall

The IoD in London is hosting a three- Running from March 12-14th, tickets business world in 2018, exporting and day business event with a difference in are available for half-day, full day and the digital world. March. Called Open House, it will see three day sessions spread across the Tickets for a half-day visit start from the iconic Pall Mall HQ throw open its main stage, the seminar room and the £175 + VAT, with three-day tickets doors to welcome members and workshop room. available for £595 + VAT. non-members to a series of seminars, Each one will host renowned speakers discussions, workshops and who will help you address key topics To register and book, see iod-2018- networking events over three days. such as inclusivity, the shape of the visitor.reg.buzz/membership

20 | IoD West Midlands January 2018 Christmas social, at the IoD

The IoD kicked off the festive season in some style on December 7 with a relaxed and convivial social evening at All Bar One, Brindleyplace, Birmingham. Over a couple of Christmas drinks members networked with IoD staff and committee members in an event that was more about getting to know you rather than ‘getting to know your business’. Regional director Calum Nisbet used the event to launch the 2018 Director of the Year awards, encouraging those present to enter or nominate a deserving director.

Peter Lewis, Gary Cowdrill, James Cook, Jo Hodgetts and Daniel Yar Himidi, Joanna Sue Hurrell, Peter Lewis and Lisa Jones Calum Nisbet Alder and Ann Jones Meet the vintners: hi-tech wine tasting comes to Birmingham

What could possibly go wrong? Three vintners, scattered around the world (well, South Africa, southern France and south Staffordshire), all hoping to ‘videocast’ into a room full of people at Innovation Birmingham, as the audience sat patiently watching the seven-metre HD presentation screen, eager to learn more about the wines in front of them. Well, after a few teething problems (connecting to Staffs, believe it or not!), we were delighted that the event ran smoothly and we got to enjoy a few hours of innovative wine tasting thanks to the comms technology provided by Cisco Webex. Led by enigmatic wine expert Ray Abercromby, we were introduced to the vintners who talked us through eight wines from Halfpenny Green Vineyards, Domaine Treloar and The Fledge & Company. (Thank you to Ray for his excellent tasting Midlands’ You Tube channel. Lots of swirling and slurping took place, notes!) Conversations are in place to host a similar contemplating how ‘toasty on the nose’ the To top it all, the event raised over £1,700 for event with the Napa Valley … Watch this space! Halfpenny Green White Sparkling was or Birmingham Children’s Hospital. Huge thanks • For your own tasting sessions, the wines appreciating the ‘subtle stone fruit and peach go to our Vintners, Dr David Hardman and sampled were: Halfpenny Green Wines: 2014 nose’ of The Vagabond from Fledge & Co. team at Innovation Birmingham, Mills & Reeve White Sparkling; 2014 Rosé Sparkling For me, the wine of the evening was the One for sponsoring the event and, of course, Ray Fledge & Co: 2014 The Vagabond; 2015 Block Grenache from Domaine Treloar, a ‘deep Abercromby for all his planning and support. Klipspringer; 2016 Katvis Pinot Noir and complex wine, with flavours of ripe berry Thanks also to Ruth Duggal who recorded the Domaine Treloar: 2015 La Terre Promise; 2013 fruits, liquorice, fennel and dark chocolate cake.’ event, which can be seen on the IoD West One Block Grenache; 2013 Le Secret

IoD West Midlands January 2018 | 21 IoD Mastermind Groups

Mastermind Groups: specialist subject, your personal development

The IoD West Midlands Mastermind group setting that sharpens business and summary of topics they would like to Groups brings members together to share personal skills. The ethos is to provide a discuss. ideas and concerns and build strong positive, informal but challenging and All groups include a two-course meal business relationships in a safe, supportive space to discuss issues that with wine and coffee except the constructive environment. They offer a confront directors on a daily basis. breakfast group, which includes a full combination of brainstorming, education, The format is simple, with introductions English breakfast. peer accountability and support in a and feedback before all members share Mallory Court Birmingham Stanbrook Abbey Time: 6pm-9pm Time: 6pm-9pm Date: Thursday, 18 January Venue: Mallory Court Country House Venue: Hotel Du Vin, 25 Church St, Time: 6pm-9pm Hotel, Harbury Lane, Birmingham B3 2NR Venue: Stanbrook Abbey, Jennet Royal Leamington Spa, Cost: £30 + VAT Tree Lane, Callow End, Warwickshire CV33 9QB dates: Birmingham 1: Worcester WR2 4TY Cost: £30 + VAT Meeting on Mondays - Cost: £30 + VAT Dates: All Mondays: January 8, January 15, February 12, The Herefordshire and Worcestershire February 12, March 12, March 12, April 16, May 14 mastermind group focuses on April 9, May 14, June 11 and June 11. supporting personal development The meeting will be held over a two- Birmingham 2 group will goals. The cost includes dinner with course dinner with wine and coffee, launch on Tuesday, Feb 20. wine and tea/coffee. The starting at 6pm and finishing at 9pm. We are delighted to announce a second group is facilitated mastermind group for Birmingham by Joanne which will meet at Hotel du Vin on the Hodgetts, third Tuesday of the month beginning chairperson for with February 20. the Herefordshire and Worcestershire.

Stone Manor

Time: 7.30am-10am Venue: Hogarths Stone Manor Hotel, Bromsgrove Road, Kidderminster DY10 4PJ Haughton Hall Cost: £13+VAT Time: 6pm-9pm Women as Leaders Dates: All Thursdays, January 18 Venue: Haughton Hall Hotel, February 22, March 22 Haughton Lane, Time: 6pm-9pm April 26, May 24, June 28 Shifnal TF11 8HG Venue: Hillscourt Hotel, Hillscourt, Cost: £30 + VAT Rosehill, Rednal, Ian Priest, IoD Black Country Branch Dates: All Tuesdays: January 9, Birmingham B45 8RS chairman, facilitates this mastermind February 6, March 13 Cost: £25 +VAT group which meets at Hogarths Stone Dates: All Tuesdays: January 16, Manor Hotel for a full English February 13, March 13 breakfast. The group offers peer-to-peer mentoring and an opportunity to brainstorm as well as develop personal skills. During 2017 the group discussed ideas to engage an audience, learnt tips on making videos, being a non- executive director, language skills and more. This year’s theme is #PressForProgress To book: online at www.iod.com/westmids or contact [email protected]

22 | IoD West Midlands January 2018 Weston Hall IoD Monthly Socials Mastermind Group IoD socials are an excellent way to build a quality network. Date: All Mondays: February 26, All members are welcome to join regional director, Calum March 26, April 24, May 22, Nisbet and committee members for a complimentary drink. June 25 Time: 6.30pm-9.30pm Venue: 1810 Weston Bank, at The King’s Arms, Solihull Stafford ST18 0BA Date: Wednesday, February 7 Cost: £30 + VAT Time: 6pm-8pm This members only event is facilitated Venue: The King’s Arms, by Richard Bisiker and includes a 210 Warwick Road, Knowle, two-course meal with Solihull B93 0EE wine and coffee. Cost: Free of charge

at The Whittington Arms, Lichfield Date: Thursday, May 3 Time: 18:00-20:00 Venue: The Whittington Arms, Tamworth Road, Lichfield WS14 9PS Cost: Free of charge “Mastermind groups give you easy access to Drop in to The Whittington Arms any time between 6pm and 8pm. a wealth of new and important insights and knowledge in a supportive, enjoyable There’s no charge for either event but we ask you to book environment, where the relationships you online at build, help you to get business results. At the www.iod.com/westmids or same time you become part of a special contact [email protected] community that you can both socialise with, and call on at any time for input, risk free.” Anne-Marie Stanton, Atteso Solutions Ltd.

IoD West Midlands January 2018 | 23 Legal matters

Second devo deal will boost Midlands Engine says business lawyer

business ideas by providing financing deals which offer higher amounts on lower interest rates • Funding knowledge sharing and skill building platforms, including events for new businesses to “A second network and discuss ideas with successful technology A leading business lawyer at Irwin Mitchell has entrepreneurs. devolution deal welcomed plans for a second devolution deal in the West Midlands following results from his firm’s UK ‘Industry 4.0’ in the West Powerhouse report which reveals that Birmingham has According to another study by Irwin Mitchell, the Midlands would fallen five places in a league table of the UK’s fastest increased use of ‘Industry 4.0’ technologies within UK growing city economies. factories will cause a significant swing towards higher provide a Chris Rawstron, partner at law firm Irwin Mitchell and skilled positions. It also says that the impact in terms of National Head of Corporate, said: “The Midlands Engine jobs will be different in different regions. further requires a boost and I welcome the recent announcement The Go Fourth report examines the latest trends and about the £1.7bn Transforming Cities Fund as it impact on the manufacturing sector of new technologies devolution of recognises the need to improve transport infrastructure such as fully autonomous robots, 3D printing and powers from within our largest cities. augmented reality. “I also support the confirmation of a second These technologies, often referred to as the fourth Whitehall and a devolution deal in the West Midlands as it provides a wave of the Industrial Revolution, create ‘Smart further devolution of powers from Whitehall and a Factories’ which offer many benefits including higher much-needed much-needed funding boost to the region.” productivity, increased speed of production and The UK Powerhouse study is produced by Irwin improved product quality. funding boost to Mitchell and the Centre for Economics and Business A common fear associated with Industry 4.0 is a loss Research (Cebr). It provides an estimate of GVA growth of jobs but according to the study, employment levels the region.” and job creation within 45 of the UK’s largest cities 12 within the manufacturing sector will increase by 0.8% Chris Rawstron months ahead of the Government’s official figures. between now and 2021 as a result of the increased (below) According to the report, Birmingham’s economy grew utilisation of Industry 4.0 technology. by 1.6% in the 12 months to Q2 2017. The slowdown in It says, however, certain occupations will be hit harder the rate of growth compares to a 2.1% increase in GVA and the impact of this will be felt to a greater extent in within the city during the previous quarter. The quarterly some areas of the UK. fall in output has been blamed on the weak performance The report forecasts that in the next four years, lower of the production sector. Coventry’s economy grew at skill professions and administrative jobs will fall, while 1.5% in the 12 period while Wolverhampton’s increased there will be a 12% increase in managers, directors and by 1.2%. senior officials and a 7% rise for professional occupations. Technology The report reveals that the West Midlands is one of the UK Powerhouse also highlighted the growth of regions where manufacturers employ the highest Birmingham’s technology sector, with the latest figures percentage of at-risk occupation groups, while revealing that the value of goods and services produced London and the South East employ the least. between 2012 and 2015 grew by 25%. This compares In the South East, for example, only 9% of favourably to a national average of 14%. manufacturing workers are process, plant and It is further predicted that the UK-wide number of machine operatives, for which employment is jobs in the technology sector will increase by 24% in next expected to decline by 2021, while the figure for 10 years. However, the report raises concerns that the the West Midlands is 22%. true potential might not be realised. These regional results suggest Industry 4.0 will To ensure all cities, including those across the West generate a change in the distribution of Midlands, benefit from the available opportunities in the manufacturing jobs within the country. tech sector, the report advises a holistic approach and Aggregate employment is not forecast to makes a number of recommendations. These include: change significantly, and the job • Tackling the shortage of highly skilled employees by creation will occur in areas with more encouraging more women to enter the industry employment of managers and • Investing and opening more ‘code academies’ to professional occupations, of which increase the number of people with the necessary skills in there are a higher proportion in programming languages London and the South East. • Establishing a plan that allows the existing data flows between the UK and the rest of Europe to continue before the UK officially leaves the EU • Find out more at • Expanding the Start Up Loans scheme for new www.irwinmitchell.com

24 | IoD West Midlands January 2018

CPD Masterclasses

Taking your career to the next level with our bite-sized Masterclasses

We have changed the format of our IoD Masterclasses for 2018. Now there will be two topics covered at each event, rather than the one as previously. You can book on either of the short, sharp sessions – but we’ve tailored these events so that the topics make ideal partners, so we would encourage all members to attend both. One session is £75, but sign up for both and it’s only £130 for the pair. All sessions are held at Squire Patton Boggs, 148 Edmund Street, Birmingham B3 2JR. The first session on each day starts at 8.30 am and runs until 10.30am; the second starts at 11am, finishing at 12.45pm For more details, contact Sue Hurrell on 0121 643 7801 / [email protected]

Wednesday, March 14 Thursday, May 17 Topic 1: Improving Board Dynamics This interactive taster session considers the Topic 1: Strategic Decision Making Topic 2: Top Five Things Every important interplay and balance of board You will find out how to understand the Director Should Know dynamics exhibited at board level, focusing on ingredients for effective strategic decision This interactive taster session will enable you how to improve interaction, behaviour and making and some of the key challenges. This to distinguish the role of a director from the relationships in board meetings. In this workshop will also give you the opportunity to roles of operational management. You will focused introduction to the topic, you will assess your own organisation’s strategic explore the link between a director’s duty have the opportunity to explore: decision making capability and learn where towards the company and their personal • What board dynamics are – and why they this can be strengthened. liability. matter • Why (and how) board dynamics differ from those at executive and management level • Some of the typical features of a well- functioning board with good board dynamics • How to recognise and help develop positive dynamics

Topic 2: Strategic Change – Making it Happen! This interactive session will position the strategic change process and share examples of best practice in the leadership of strategic change.

Thursday, September 13

Topic 1: Risk Management and Value Creation managing risk across the organisation. management can get co-ordinated to overcome By the time the delegate has completed the multiple barriers and become successful This interactive workshop provides a session, they should be able to: business partners. This highly interactive board-level introduction to risk management: 1. Evaluate risk by focusing on threats and workshop provides a practical perspective on understanding the true nature of risk, opportunities the merits and challenges of investing time and exploring how businesses can prepare for 2. Discuss the director’s role in assessing and resources in finance business partnering. It uncertainty, and examining the director’s role managing the principal risks crucially covers how to obtain buy-in and in managing risk. This workshop will also give you the support from other board directors. Based around interactive discussion and a opportunity to assess your own organisation’s You will learn how business partnering can practical case study, the session will help strategic decision-making capability and learn help drive strategy, its impact on business delegates to understand how risk management where this can be strengthened. performance and how to tackle any barriers improves decision-making, thereby adding and skill gaps. The session finishes with how to value, and will focus their attention on the Topic 2: Finance Business Partnering develop a compelling action plan and roles and responsibilities of directors in Explore how the finance and business measuring success.

26 | IoD West Midlands January 2018 IoD Certificate in Company Direction courses A dirty weekend Birmingham base for cutting-edge professional in Shropshire... development courses from the IoD

The IoD’s director development courses and workshops are the best way for business leaders to build new skills and ensure their CPD is current and up-to-date. Even better, they are based in Birmingham, providing you with world-class training programmes on your doorstep, eliminating the need to travel down to London and the costs that it involves. All courses are delivered from The Library of Birmingham, Centenary Square, Broad St, Birmingham B1 2ND

Role of the Director and the Board the financial health of your business, Date: March 15-16 evaluate business plans with confidence Time: 9.30 – 17.00 and contribute more effectively to Cost: Member £2,250 + VAT boardroom discussion. This course also Non-Member £2,700 + VAT includes e-learning support which Delivering an essential understanding expands upon the concepts and ideas of the board’s role in corporate covered over the three days, and advice governance and risk management, this on how to align these with your own Sign up for a superb opportunity to introduction to the duties and legal organisation. test your mettle with the army responsibilities of a director will enable This is a module of the Certificate in you to tackle the challenges of the Company Direction qualification, and IoD West Midlands Members have been offered a rare boardroom with fresh confidence and can be completed independently or taken chance to experience an action-packed weekend with the progress your career to the next level. as part of the full qualification. Army Reserve, with interactive training activities that This course is a module of the cover all the main skills required in the Army: medics, Certificate in Company Direction Director’s role in marketing infantry, engineering, communications and survival. qualification. and strategy The exercise is all about leadership development and Date: May 21-23 team-work and will involve night patrolling, military Time: 9.30 – 17.00 reasoning, command and leadership tasks and planning a Finance for Non-Financial Director This course provides an introduction to military event. Date: April 18-19 the main approaches to strategic It will give you an exciting opportunity to test yourself Cost: Members: £2,250 + VAT direction and marketing within the and use your communication, motivational, team Non-Members: £2,700 + VAT organisation, and will assist you in your building and problem solving skills in a unique Designed specifically for non-financial role of leading the strategic process and non-workplace environment. directors and senior managers, this preparing for implementation. And yes, we’re pretty sure you are guaranteed to get course demystifies the world of finance, Learn how to create value for your key muddy, so best leave the business suit at home. allowing all directors, especially those stakeholders and appreciate the The event will take place at Nesscliffe Training camp with no financial background, to monitor importance of market analysis. near Shrewsbury, starting at 4pm on Thursday, April 19 and will conclude at around 2pm on Saturday, April 21. The Army will provide all food, accommodation and any specialist clothing. Dates for your diary: IoD Professional There is no charge for the event, which is generously covered by the Army, but spaces are incredibly limited, so Development courses for 2018 please do book up as soon as possible.

Course Date Course Interested? Get in touch with the IoD West Midlands regional office as soon as possible. June 25-26 Leadership For Directors Book online at July 12 Role of a Non-Executive Director www.iod.com/westmids or contact [email protected]. July 26-27 Role of the Director and the Board Alternatively, call 0121 643 1868 Sept 3-5 Finance for Non-Financial Directors Sept 10-12 Developing Board Performance Oct 10-12 Directors Role in Strategy and Marketing Nov 19-20 Leadership for Directors Mentoring

Mentoring - from both sides of the equation

The IoD West Midlands student mentoring scheme has been a huge success since its inception and has helped a number of students make the difficult jump from academia to work. Here, one former student who came through the mentoring scheme at Coventry University, Edward Colmer, talks about his transition into employment at Comau, where he works under IoD member and student mentor Dan Thombs

About Edward Colmer... I am a graduate in Business Management with a First Class Honours, fluent in Italian and English (of course) and I have completed mechanical engineering-related courses in Italy. I chose Coventry University for its developed approach towards education through practical- style learning and support for real-life professional consideration. The university has put a great deal of importance in work experience, extra- curricular activities and more which suited my varied life style. I have always enjoyed building relations with diverse range of people and like others radar? his degree, his work experience and his personal to keep active. A ‘speed networking’ event created the interests had been enhanced and bought into About Dan Thombs... Dan is a Chartered perfect environment for me to condense Dan’s focus by his work with the IoD and a Director and a previous winner in large complex, yet exciting, professional life. professional mentor. category, Director of the Year 2015. He is a Highlighting our common interests and Ed was not my mentee but he was able to member of the board of Comau UK. He mentalities, Dan and I were able to easily see show me, in all our conversations, that he was mentors students at the University of value in further contact which would lead to my capable and employable. He is a great asset to Wolverhampton and Coventry University. new role in industry. our team in Comau. And about Comau... Comau UK is a worldwide leader in the industrial automation Why was Comau attractive to you ED? How would you encourage other IoD field with UK sites in Rugby and Gateshead. A new UK marketing role with a leading members and students to get involved Italian company in automation, was highly with the mentoring programme? What did the mentoring programme appealing as it would allow me to fully utilise Dan and I both agree a well-rounded mean to you, Ed? my skills in combination with my fluency in individual willing to be proactive and hands-on The mentoring programme provided an Italian. However, the most important deciding with what they enjoy is what leads to a excellent stepping stone towards creating my factor for me was the care and value Dan and successful professional life. The IoD is perfect professional identity through regular his team have for people and relationships for encouraging such a mentality and even networking practice and industry exposure. which aligned unanimously with my own create situations where people can find out beliefs. more about themselves to obtain direction for What were the highlights of the where they want to go in life, professional and programme? What was it about Ed that stood out, personal. The IoD set up many stimulating events/ Dan? Dan added: I have a message for people activities that combined students and successful Ed showed a calmness, confidence and a considering getting involved in the IoD: business people in a way that encouraged clarity of purpose in his interviews and Experienced individuals and new talents are, in mutual learning and growth, from multiple interactions. my opinion, the key to a successful professional aspects. He was enthusiastic, without being over life. The IoD is a perfect blend of people so I We enjoyed finding out about different eager, and confident without being arrogant. It strongly encourage you to take a step forward industries, from engineering businesses to is a difficult balance to achieve. He also with the IoD, whether you are creating your luxury chocolatiers which provided inspiration managed to show that he had ‘something about career path or have had your own exciting to all participants. him’. I believe the combination of Edward’s journey.

At what stage did you appear on each academic work at Coventry University to obtain

28 | IoD West Midlands January 2018 Forget out-dated concepts such as the glass ceiling - it’s the sticky floor and the glass labyrinth which is holding women back in the workplace, says Jenni Jones

How can we create a more gender-diverse workforce at all levels? We need to help each other and involve men more. Ceilings are out - It is agreed that there are more women in the workplace. It is agreed that women and men are equal in ambition, ability and commitment in why women are the workplace. It is agreed that there are more women in senior positions in the UK and globally, too. However, there is still horizontal and vertical now stuck in the segregation of the labour market (Gianettoni and Guilley, 2016). Horizontally, in respect of gendered occupations, and vertically, where ‘glass labyrinth’ often men are in more senior positions and therefore, men are still over-represented in the higher levels and women tend to be over- represented in highly feminised occupations, and lower paid jobs. In the United Kingdom, 21 per cent of senior roles are held by women Perhaps we have waited for men to create a (globally this is 24 per cent) and 36 per cent of seat for us at the top table and hoped that the UK businesses have no women in senior offer would come. Perhaps it is time to be more management teams (globally this is 33 per proactive and to get more men on board and to cent). help each other. The good news is that the glass ceiling has Women make powerful role models, too; we gone! The bad news is that it has been replaced! can look up to them and look for support or we It has been replaced by a ‘glass labyrinth’ can decide that when we get there, we will work (Eagly and Carli, 2007; Hoyt, 2010) which differently, but either way we have a involves the well-known glass ceiling but also a responsibility to other women to support them concrete wall (the organisational culture in their ambitions. Where workplace policies creating obstacles) and a glass cliff (whereby and legislation are not enough, women looking women are promoted in times of organisational out for and supporting other women is a firm difficulty, which increases their chance of base to start. failure), all of which are typically created by and Interestingly, a brief questionnaire was within the organisations themselves. completed by some of the audience members We also still have the ‘sticky floor,’ typically during the debate and women as role models created by women themselves (Shambaugh, and mentors were cited by the majority as a 2007.) hugely enabling factor to their career With this in mind, it was interesting to be at progression. the IM Powered panel debate in September, This is where networking groups such as IM jointly sponsored by Irwin Mitchell and the Powered and the IoD Women as Leaders IoD, where the first question was ‘have you forums are a helpful way to encourage experienced the glass ceiling and if so, how did levels in the UK and globally, the debate moved like-minded individuals to get together, to you overcome it?’ on to what we should and could do about it. encourage each other and to share experiences It was met with a groan from the panel and The importance of creating a healthy, internal and networks. the audience alike. Not that it wasn’t a good pipeline was discussed, which involved a look at The final suggestion as part of the panel question but that it is sad to think it is still a how organisations recruit, train and retain the discussion was for each member of the IM valid question many years after the positive talent within their organisations, and ideas were Powered audience to bring a male colleague changes in respect of legislation and more shared about identifying role models and with them next time so that they could share in gender diverse working practices. having mentors; not just women as mentors but and support the debate. In a world where there It was interesting to hear very senior women male mentors for women, too. We were are far more men called John or David leading talking about the inequality they had felt and reminded that men can act as powerful the UK’s biggest companies than women, there still do, but also interesting that they received it advocates and sponsors, and as women we need is clearly more work to do. from both men and women. The debate went to be careful not to rely on women only for our We need to either work harder at educating on to discuss the impact of childcare support; women do not always have the the workforce at all levels to embrace more responsibilities, and the importance of more networks that their counterparts do. diversity and the positive impact that women flexible maternity/paternity related policies but We also discussed recognising our own can bring – and/or change our names! it was highlighted that this was not relevant to strengths and accepting that we have choices Jenni Jones is Senior Lecturer, HR & all women. Clearly, you don’t have to be a and sometimes sacrifices to make, but Leadership and Course Leader - PGCert/ mother to be overlooked in the workplace. ultimately there was a real sense that women PGDip/MA in Coaching and Mentoring, at Despite the sense of frustration that we still need to drive this for themselves, to get off that the University of Wolverhampton do not have a gender diverse workforce at all sticky floor. Business School Faculty of Social Sciences

IoD West Midlands January 2018 | 29 Charity spotlight

“Listening to what different people had to say about their jobs and why they enjoyed them was really valuable. Seeing what goes on in Birmingham was definitely new learning for me.” Year 9 student, Cockshut Hill School

Helping young people to Get Ahead

Ahead Partnership work across the country Paradise Birmingham Urban Regeneration As a result, 100% of school staff felt the with employers and educators to provide Challenge challenge helped students understand the range services that help employers to engage, inspire With the help and advice of industry experts, of different businesses and opportunities and motivate young people around skills, career Year 9 students from two schools in available at Paradise Birmingham. options and future employment. Birmingham were asked to plan a brand new Our award-winning and externally validated development for the city. 40 students attended Try a Job Day at Cockshut Hill School Make the Grade programme is now in its the launch of the challenge at the Paradise 200 students got an interactive day of seventh year and has had an impact on over Development in Birmingham City Centre. They activities from a variety of Birmingham 100,000 young people to date. were flown through a virtual tour of the businesses – helping them to find out more development and students took part in about the world of work and how they can enter Make the Grade: Tackling the skills deficit workshops to help develop their concept. the jobs market in their region. in the West Midlands A diverse range of business partners from Volunteers from Kwikfit, the University of Connecting with your potential workforce as Paradise Birmingham took part in the challenge Birmingham, Francesco Hair Group and BAM early as possible enables your business to shape including volunteers from Argent, Arup, Glenn Construction ran practical workshops to give that workforce and the way it thinks and early Howells Architects, GVA, Faithful & Gould and students real insight into potential careers. This intervention enables businesses to introduce Core Marketing to help the students evolve included hairstyling and barbering in a and develop the skills they need. their plans with students having the classroom salon, a construction workshop and Make the Grade is an award-winning flexible opportunity to return to Paradise Birmingham getting under the bonnet of a car. 90 per cent of and adaptable programme which brings to receive feedback on their progress. students that took part said the day gave them employers and schools together and offers The students had eight weeks in total to better insight into their own skills and bespoke projects and workshops designed to finalise their concept before pitching their idea aspirations and made them feel better prepared address particular business needs. to the business experts. The overall winners for the world of work. Based on real life experiences, the were able to apply key concepts and underpin For more information on how your programme is focused on both raising advice from previous sessions and won an business can volunteer to take part in exciting awareness of the technical skills that employers all-expenses paid trip to London to see Argent’s Make the Grade activities such as workshops are crying out for and encouraging and Kings Cross Development to broaden their and enterprise competitions please visit developing essential employability skills. learning from the competition. www.makethegrade.org.uk Businesses of any size and industry can get involved, and there are a number of projects taking place in the West Midlands that volunteers can get involved with. But what have volunteers in the region been doing so far?

30 | IoD West Midlands January 2018